Financial Library

It's been a long and volatile quarter in the financial world. Markets are taking most investors on a wild and sometimes frightening ride, the news about corporate failures and bailouts is confusing and the economic news is almost certainly disheartening.

As some in the media eagerly seek to assign blame for the current stock market turmoil, others are predicting a global doom reminiscent of the 1930s.

Despite the media's best efforts to draw comparisons between today and the Great Depression, there are KEY facts that often get overlooked.

Our parents raised us; we moved out, had children of our own and raised them. Then our children moved out and had children of their own to raise. It was supposed to stop there for us, but then one day we had to look after one or both of our parents.

According to a 2007 survey by Market Probe Canada, 38% of those between age 35 and 75 have already provided long term care to a family member or friend. www.Howtocare.com suggests that we may spend as many years caring for a parent as we did raising a child.

You may not be ready for this. Despite all you may have heard, term life insurance is not better than permanent life insurance! And whats even more confusing, permanent life insurance is not better than term life insurance!

Mathematically speaking, they're equivalent.Term insurance is cheap initially, but its premiums usually increase at regular intervals, generally every ten or twenty years. It's like renting your accommodation. Most term insurance policies only provide coverage to a certain age.

Now that summer has officially arrived, many of us start to think about home renovations, garden projects and summer vacations. But while we often know what we want to accomplish, sometimes we are not sure where the money will come from. If you're planning for a large expense this year, consider some of the following issues:

On October 30, the federal government presented a 'mini-budget,' which outlined a number of initiatives designed to create tax savings for Canadians.

Tax cuts were the main thrust of Finance Minister Jim Flaherty's announcement, which means there are a few new ways you can save your money. In case you haven't had time to follow the media coverage on this issue, the summary below outlines the recent tax changes and how they'll benefit you and your family.